SE1. CON CEPTGallon Auto purcl parking lot. Indicate whether each of the followi

Question

SE1. CON CEPTGallon Auto purcl parking lot. Indicate whether each of the following expe (a) Land, (b) Land Improvements, or (c) Buildings 5. Building construction costs 6. Lights around the property 7. Building permit 8. Interest on the construction loa 1. Paving costs 2 Architects fee for building design 3. Cost of clearing the property 4. Cost of the property LO2 Group Purchase se and parking lw SE2. Pattia Com $1,500,000. An appraiser valued the components of the property if purch as follows. ased Land Land improvements Building 400,000 200,000 1,000,000 $1,600,000 eo Total Determine the cost to be assigned to each component.

Explanation / Answer

Determine the cost tobe assigned to each component :

Appraiser value Ratio Assigned cost Land 400000 25% 375000 Land improvement 200000 12.5% 187500 Building 1000000 62.5% 937500 Total 1600000 100% 1500000

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